December 7, 2012

Fiscal Cliff; House Speaker Boehner took the ‘gloves off’

(US) House Speaker Boehner (R-OH): 
There is no progress to report in fiscal cliff negotiations, the White House has wasted another week, has given us no counter offer
– The president’s strategy is to “slow walk” the process, which is sending the US toward the fiscal cliff. 
– Geithner’s comment that the Administration is willing to go over the fiscal cliff is “reckless talk.” 
– Describes phone discussion with Obama earlier this week as “pleasant” but “more of the same.” 
– “When is he going to take a step toward us?”

(US) House Minority Leader Pelosi (D-CA): 
Republicans have only offered empty letters in negotiations with the Democrats over the fiscal cliff; need a deal that increases tax revenues along with spending cuts
– Reiterates the only thing standing in the way of middle class tax cuts are Republicans holding out on tax rate increases for the top 2%; highlights the same 2% receive a cut as well as part of the middle class tax cut 
– Not sure whether a 37% top rate would raise enough revenue. (shocker of the day)

    schooloftrade

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